Advice Needed On Guarantor's

clutton_2

get your folks to fill in a guarantor forms, then pay for the credit checks maybe via internet banking asap, they could fax their completed forms to the agent - as a LL I have taken guarantors i have not met, but, i did need a few days to check out the information supplied, in many ways checkign out the guarantor is MORE important than checking out the tenant

why do you need one ?

Radiantsoul

clutton wrote: »

in many ways checkign out the guarantor is MORE important than checking out the tenant

why do you need one ?

Do you general pursue a guarantor?

Jonj1611

Hi Clutton,

Thanks for your reply, I am moving out and my children, unfortunately I will be getting LHA for a while, and as you probably know that means I need a guarantor. I have found somewhere that will take LHA thankfully.

Hence why I need to try and make sure if I like the place, which from the pics I do, that I have everything in place. I am viewing it Tuesday morning.

Jon

princessk1

Could you send the forms via special delivery?that way they could be back to you in 24hrs.i did this when my hubbie and i rented our flat,he still lived 250miles away and couldnt come up to sign contracts so i sent them to him sd and got them back the next morning

Jonj1611

Indeed that is true, I could do that if needed.

I think my main concern was I have read that some landlords/agencies want to see the guarantor actually sign the paper otherwise I could just send it to anybody to sign. Some of the tenant forms I have seen say "Witness To Guarantor" or something along those lines.

But it seems that doesn't seem to be the case for everyone and if it is viable to do that, then it may well be an option. Another option I just thought of and probably should have thought of it from the beginning was to check with the agency if the tenant forms are downloadable, if so I could get my parents to download/print/special delivery me the form ready for Tuesday.

And to everyone, thanks for taking to time to reply

Jon

G_M

Radiantsoul wrote: »

Do you general pursue a guarantor?

What would be the point of a LL getting a guarantor in place if he was not going to pursue them in the event of the tenant defaulting???!

eco-friendly_2

I think my main concern was I have read that some landlords/agencies want to see the guarantor actually sign the paper otherwise I could just send it to anybody to sign. Some of the tenant forms I have seen say "Witness To Guarantor" or something along those lines

England/Wales legally require the guarantor form signature to be 'witnessed' but not in Scotland.

kitschkitty

Our letting agent never told us our guarantor had to be there to sign the form and this was on the day we were moving in - our moving van was outside the house waiting for us to come back with the keys so they could get unloading.

I swear I nearly had a breakdown that day because our guarantor was at work, hundreds of miles away! In the end they agreed to fax her the form and she had to sign it as did a witness, but she was a company auditor and and the other person was a store manager so I think that may have influenced their decision/agreeing to it.

In the past our (other) letting agent let our guarantor sign it and we just gave it to them. No witnesses.

In fact we had to have a different guarantor for this agent as our other guarantors didn't earn enough according to this agent!

clutton_2

i do pursue guarantors....

adg1

Jonj1611 wrote: »

Additionally once I have paid the reference fees, is the property 'held' for me until the reference checks come back or could someone still get it
Jon

In theory the property is held for you until ref checks are passed.

In practice, and with a market where many landlord use more than one agent, you can still lose out to someone else. The holding fee will (normally) remove the property from the market with LA1 whilst they check you out. If LA2 is instructed and gets a tenant then the landlord has no allegiance to you as a tenant so can accept the other offer with no qualms.

The only way to secure a property is with your signed TA, landlord TA and your deposit and 1st months rent in cleared funds.